Moral Outrage
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The US National Debt increases by 5 billion dollars a day

If it continues borrowing at its current rate, the U.S. Treasury Department would hit the legal limit on government debt on March 14, according to figures provided by the department and CNSNews.com calculations.

Over the 12 months ending January 31, 2011 the Treasury borrowed a total of $1.8 trillion, or approximately $5 billion per day.

As of January 31, the Treasury could only issue a further $215,499 billion before it runs into the congressionally-mandated limit of $14.3 trillion.

The debt limit is the amount of debt the Treasury is legally allowed to hold outstanding. It is not a restriction on Congress’ ability to appropriate or impose new obligations.

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